When we think of money management, it calls to mind budgets and spread sheets and all sorts of boring things. But when you mention management in the real world, the image calls to mind human resources professionals and working to create a positive work environment. So whether you sit down solo or as a partnership to manage your finances, draw from the following list to make sure you are doing what you can do to create a positive money environment:
Set a time to talk about money
For some people, talking about money at night can be incredibly stressful. Others might prefer only to talk at night. The time of day, the time of week, and the clothes you wear can all affect how comfortable and relaxed you and your partner feel when you discuss money. To make sure you are as effective as possible, meet during the time of the week and time of the day that is agreeable to everyone involved.
Agree to certain words
If you know your partner gets territorial around the word “budget,” use the word “spending plan.” If you hate spreadsheets, write out your plan in fun colored markers on index cards. There is no required language when it comes to managing your finances — whatever it takes to get the job done is fine.
Agree to work together
Talking about money isn’t about making anyone feel bad, it’s about deciding what the best purpose for every dollar your household earns. And money mistakes are just that — mistakes that can be corrected the next time you give it a try. If you are budgeting with a partner or spouse, it is important to vocalize that you are both coming together for a common purpose, not calling into question each others decisions. And if you are budgeting solo, the same rules apply. Be kind to yourself, because you are on your own team!
Give meaning to your meetings
Few things are as rewarding as spending time working towards a goal and seeing progress. But when you invest time in a goal and nothing happens? Crushing. When you work to set a budget, do your best to stick to the plan so that the time you have invested in your plan has purpose.